Parents fail to invest their free 50 Child Trust Fund voucher


Over 100,000 parents have not invested the last Child Trust Fund vouchers allocated by the Coalition.

HMRC's figures show that of the 555,000 vouchers issued in the 12 months to June 2011, 136,000 are yet to be invested.  The vouchers issued this time are worth £50 and £100 for low income families, compared to £250 for previous vouchers, and it is assumed people have ot bothered to take the scheme seriously due to the drop in value.

 

Those who do not invest the funds themselves will be allocated a default stakeholder account.  They will not be eligible for the Junior ISA - the new savings vehicle that has replaced the Child Trust Fund for infants born from January 2011.

 


  • Date posted:
    11/01/2012
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